Weekend News Recap

Weekend News Recap

February 4th, 2018

Oregon is producing three times more marijuana than it can consume

I wish this was a problem we could all complain about in Connecticut. Let the supply drive down prices! – Dabbin Dad

Oregon is producing three times more marijuana than it can consume with “formidable” amounts now ending up on the black market, officials have warned. US Attorney Billy Williams told law enforcement representatives from across the US on Friday that the state, where recreational cannabis use is legal, had a serious overproduction problem. Mr Williams said officials needed a “bottom-line answer” on how much excess marijuana was being produced and how much of it ends up on the black market.

In a local newspaper column last month, the attorney warned huge surpluses were attracting criminal networks, causing money laundering and drug violence… Read More

The US cannabis industry is growing insanely fast — there are now more legal cannabis workers than dental hygienists

Who doesn’t want to work in the new fast growing Cannabis Industry? – Dabbin Dad

The legal cannabis industry is posting some eye-popping job-growth numbers.

The total number of job postings for the cannabis industry increased by 445% in 2017, as a host of states — including Nevada and Massachusetts — legalized the plant for adult consumption. That’s up from just 18% growth in 2016, according to a recent study from ZipRecruiter, a job-search website.

Nine states and Washington D.C. have legalized cannabis, though it’s considered an illegal, Schedule I drug at the federal level.

Because of that trend, there are now more cannabis workers than dental hygienists in the US, according to Marijuana Business Daily, a financial-news publication focusing on the cannabis industry. The higher end of their estimate range suggests there were 230,000 people employed in the US legal cannabis industry in 2017, whereas there were 201,000 dental hygienists, according to the US Bureau of Labor Statistics.

Job growth in the cannabis industry is now outpacing some of the fastest-growing fields in the US, including tech and healthcare. Job postings in the healthcare industry grew 70% in 2017 while tech — defined as jobs in the software and IT space — rose by 254%, according to ZipRecruiter’s data. Read More

Willie Nelson’s cannabis brand raises $12 million to fund expansion

Celebrities who flaunted their pot smoking for decades when it was taboo are now cashing in on the legal cannabis boom.

GCH Inc., a Colorado firm that markets country music legend Willie Nelson’s brand of weed, said on Wednesday that it has raised $12 million to expand beyond its current market of Colorado, Washington, Nevada and Oregon. That brings its total funding to $29.5 million. Earlier this month, a private equity firm backed by billionaire Peter Thiel said it has amassed $200 million for its cannabis portfolio, which includes the official brand of the late reggae star Bob Marley.

From comedians Cheech & Chong to the rapper Snoop Dogg, pot-smoking artists are finding that celebrity branding can work just as well as in the cannabis market as it does for soft drinks, sneakers and insurance companies — and maybe even better. For now at least, having a big name behind a product can break through the clutter of cannabis strains like Gorilla Glue and Mob Boss, according to Allen Adamson, co-founder of Metaforce, a marketing consulting company. Read More